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[Cites 0, Cited by 0] [Section 370(1)] [Section 370] [Entire Act]

Union of India - Subsection

Section 370(1)(b) in The Companies Act, 1956

(b)give any guarantee, or provide any security, in connection with a loan made by any other person to, or to any other person by, any body corporate [* * *], [unless the making of such loan, the giving of such guarantee or the provision of such security has been previously authorised by a special resolution of the lending company: [ The words " which is under the same management as the lending company" omitted by Act 31 of 1965, Section 46 (w.e.f. 1.4.1967).]